Analysts are not yet ready to call it a recovery in institutional demand for Bitcoin.
US-listed spot Bitcoin exchange-traded funds recorded a net inflow of $197.4 million in the week ended Friday, snapping an eight-week streak of weekly outflows dating back to May.
Data from Farside Investors shows that most of the week’s gains came from the BlackRock iShares Bitcoin Trust ETF, which recorded $291.9 million in inflows. This was offset by outflows from the Grayscale Bitcoin Trust ETF, the Fidelity Wise Origin Bitcoin Fund and the ARK 21 Shares Bitcoin ETF.&
The end of the outflow streak could suggest institutional demand for Bitcoin is recovering after two months of sustained selling pressure. However, analysts say it’s too early to tell.
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